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4 years ago
CORRECTED-UPDATE 1-Mexico's economy grew about 2.5 pct in second quarter
July 31, 2013 / 3:23 AM / 4 years ago

CORRECTED-UPDATE 1-Mexico's economy grew about 2.5 pct in second quarter

(Corrects fiscal balance figure in last paragraph)

MEXICO CITY, July 30 (Reuters) - Mexico's economy likely grew 2.5 percent in the April to June period compared to the second quarter of 2012, the Finance Ministry said in a statement.

The economy posted an annual growth rate of 4.5 percent in the second quarter of 2012.

The Mexican economy has been posting slower growth since the second half of last year due to weaker demand for its exports in the United States, less robust domestic consumption and a drop in construction.

The national statistics agency will release official gross domestic product data on Aug. 20.

Last year, solid exports and strong domestic consumption helped the economy grow 3.9 percent. The government projects the economy will slow to a 3.1 percent rate this year, while a Banamex poll last week showed analysts' median at 2.7 percent.

Meanwhile, Mexico's public sector ran a fiscal deficit of 131.662 billion Mexican pesos ($10.32 billion) in June, in line with meeting a balanced budget for the year, the ministry said. ($1 = 12.7640 Mexican pesos) (Reporting by Elinor Comlay and Michael O'Boyle; Editing by Eric Beech)

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